19.10.13

Sensex, Nifty soar to 3-year high

Strong foreign fund buying backed by an upbeat statement from Moody’s Analytics about the Indian economy and signs of economic revival in China, combined with short covering, took the sensex to near its three-year high on Friday.
With banking stocks leading the rally, the Sensex gained 467 points to close at 20,883, a level that is less than a percentage point away from the all-time closing high mark of 21,005.
The day’s rally also added Rs 1.1 lakh crore to investors’ wealth with BSE’s market capitalization now at Rs 66.7 lakh crore. The day’s session started on a marginally positive note and as the session progressed, positive news flow helped.

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